Biden’s $1 Trillion Spending Spree: A Bill to Nowhere That Fails to Win Voters’ Approval

By Better Today On Apr 9, 2024

TL/DR –

President Joe Biden directed roughly $1 trillion towards tax credits, grants, and loans for clean energy in the Inflation Reduction Act, but much of the American public is unaware of the legislation or dubious of its benefits. Biden’s administration points to job creation, lowered costs for families, and a simplified tax code as the law’s advantages. However, despite massive spending from private groups, political philanthropists, and super PACs on climate initiatives and progressive campaigns, climate change is a top priority for only 3% of voters ages 18-34 in swing states, with a majority more concerned about the economy, inflation, and immigration.

President Biden’s Clean Energy Spending and Its Reception

President Joe Biden endorsed $1 trillion in tax credits, grants, and loans for clean energy through the 2022 Inflation Reduction Act. Despite popular support at signing, many now question the value of this green spending.

With low economic approval ratings, the Administration touts job creation, reduced costs, and tax code simplification as benefits. However, only a minority believe it beneficial, with 40% unaware of the law and 12% reporting substantial knowledge.

Despite climate change being important to Rebekah Pike, a 38-year-old undecided Michigan voter, she was unaware of Biden’s climate policies, she told the Wall Street Journal.

A WSJ poll showed only 3% of young voters in swing states prioritized climate change, while most were more concerned with economic and immigration issues.

Besides economic worries, Biden’s handling of the Israel-Hamas conflict in Gaza has also alienated young voters. Campuses are centers for anti-Israel demonstrations, while Biden has pledged unequivocal support for Israel.

Private entities, philanthropists, and super PACs are investing heavily in climate initiatives. Climate Power pledges $80 million, Invest in Our Future commits $240 million, and the League of Conservation Voters plans to invest $120 million.

Furthermore, former NYC Mayor Michael Bloomberg plans to spend $200 million to assist 25 cities access emissions-based federal funding, which includes funds from the Inflation Reduction Act reported Axios.

The White House has not commented on the situation.